MILWAUKEE — Metropolitan Milwaukee posted a solid
economic performance in July, according to a monthly
report by the Metropolitan Milwaukee Association of
Commerce.

Seventeen of MMAC’s 22 available July indicators
improved from year-ago levels, which matches the number
of positive indicates posted in June.

According to the report, six of 10 major sectors
registered year-over-year job increases in July, with
construction, mining and natural resources sectors
posting the largest percentage gain, which was up 13.6
percent.

Existing home sales in metro Milwaukee grew at a 16.9
percent pace in July. July’s gain marks the strongest
gain posted through the year’s first seven months.

The
number of unemployed fell 3.1 percent in July from
year-ago levels. The unemployment rate for the metro
area fell 0.3 percentage points from one year ago.
Milwaukee’s seasonally unadjusted rate of 7.6 percent in
July ranks below the 7.7 percent rate registered
nationally but above the 6.8 percent rate recorded for
Wisconsin.

“The
aggregate number of improving indicators in the past two
months has reached a high-water mark relative to its
performance over the previous 11 months,” said Bret
Mayborne, the MMAC’s economic research director. “While
the base of growth has certainly broadened recently
there still is come concern about whether the level of
local growth is strong enough to be sustainable for an
extended period.”